State of Tennessee Treasury Department increased its position in Standex International Co. (NYSE:SXI – Get Rating) by 74.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,398 shares of the industrial products company's stock after purchasing an additional 6,987 shares during the period. State of Tennessee Treasury Department owned 0.13% of Standex International worth $1,639,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of SXI. Prospera Financial Services Inc acquired a new position in Standex International in the first quarter worth about $122,000. Inspire Investing LLC acquired a new position in Standex International in the first quarter worth about $234,000. MQS Management LLC acquired a new position in Standex International in the first quarter worth about $249,000. Fractal Investments LLC acquired a new position in Standex International in the fourth quarter valued at approximately $251,000. Finally, Teacher Retirement System of Texas boosted its stake in Standex International by 6.3% in the first quarter. Teacher Retirement System of Texas now owns 2,530 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 149 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of equities analysts have commented on the company. William Blair upgraded Standex International from a "market perform" rating to an "outperform" rating in a research note on Monday, May 9th. Barrington Research lifted their target price on Standex International from $143.00 to $146.00 and gave the company an "outperform" rating in a research note on Monday, August 8th.
Standex International Stock Performance
Shares of NYSE SXI opened at $93.25 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.82 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $90.52 and a 200-day simple moving average of $95.88. The company has a market cap of $1.12 billion, a PE ratio of 18.43, a P/E/G ratio of 1.00 and a beta of 1.15. Standex International Co. has a 12-month low of $79.02 and a 12-month high of $121.44.
Standex International (NYSE:SXI – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.07. The business had revenue of $184.74 million during the quarter, compared to the consensus estimate of $182.35 million. Standex International had a return on equity of 13.79% and a net margin of 8.35%. The business's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. On average, equities research analysts forecast that Standex International Co. will post 6.7 EPS for the current year.
Standex International announced that its Board of Directors has approved a stock buyback program on Thursday, May 5th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.
Standex International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.12%. Standex International's dividend payout ratio is presently 20.55%.
Standex International Company Profile
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Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.
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